Industry Alert: 9 Freight Forwarders Implode in a Single Week
In the past week, a wave of freight forwarder collapses swept across China—4 in East China and 5 in South China—revealing only the tip of the iceberg in an industry grappling with inflated costs and cutthroat competition. The international logistics market remains high-risk in the second half of the year, with many cargo owners and forwarders facing demands for payments, police interventions, and even ransoms to retrieve detained goods.One freight agent lamented, “The industry is on edge—almost everyone has encountered sudden collapses, and no one is immune.”
Case Study: Shanghai Company Defaults on Over RMB 40 Million, Offers Mere RMB 2,000 per Creditor
A Shanghai-based logistics company defaulted on more than RMB 40 million owed to 24 freight forwarders. After creditors protested and police intervened, the firm promised repayment by July 15. However, on July 16, it reneged, distributing a paltry RMB 2,000 to each creditor instead.Affected companies are now jointly reporting the case, focusing on the suspect’s use of “fake export declarations” as a potential legal.
Additional Shanghai Collapses: Amounts Exceeding Tens of Millions
According to reports from the “Freight Forwarder Anti-Fraud Group,” several other Shanghai-based forwarders have also collapsed:
Company A: Amount under verification; legal representative fled to Japan.
Company B: Confirmed debts of RMB 20 million, involving Amazon e-commerce parcels.
Company C: RMB 30 million in debts, with goods linked to Shenzhen entities.
An urgent warning was issued: “Partners must exercise extreme caution to avoid cargo seizures and losses.”
Another well-known cross-border logistics provider headquartered in Shanghai suspended all operations due to “financial chain rupture,” pending audits before addressing compensation.
Shenzhen Cases: Cargo Held Hostage, Owners Forced to Pay Ransoms
Three Shenzhen forwarders (under the same owner) collapsed after defaulting on overseas warehouse fees since April. Multiple containers were detained, forcing partners and cargo owners to trace and ransom their goods.In another case, a Shenzhen-based forwarder misdelivered goods due to labeling errors, refused compensation, and evaded responsibility despite police involvement.
Key Takeaway: Reliability Over Low Costs
As collapses and breaches of contract multiply, both cargo owners and forwarders must strengthen risk control. In the current volatile market, “reliability outweighs low freight rates.”
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Post time: Jan-15-2026
